On September 14, 2023, Putnam Investments LLC announced the increase of their position in Ascendis Pharma A/S (NASDAQ:ASND) by 4.9% during the first quarter. This information was disclosed in the company’s latest filing with the Securities & Exchange Commission. Putnam Investments LLC now owns 740,862 shares of Ascendis Pharma A/S, an additional 34,453 shares acquired during this period.
As a result of this transaction, Putnam Investments LLC now holds approximately 1.29% of Ascendis Pharma A/S, which amounts to a staggering $79,435,000 in value at the end of the most recent quarter. This substantial investment indicates the confidence Putnam has in Ascendis Pharma A/S as a biotechnology company.
Ascendis Pharma A/S is recognized for its innovative contributions to the biotechnology industry and its commitment to developing transformative therapies for patients globally. The company focuses on creating therapies that target rare diseases with significant unmet medical needs.
This recent increase in holdings by Putnam Investments LLC further emphasizes Ascendis Pharma A/S’s potential and prospects for growth in the future. It indicates that institutional investors are recognizing and appreciating the long-term value and opportunities presented by this biotech firm.
Investors will be closely monitoring Ascendis Pharma A/S as it continues to pursue its research and development initiatives while striving towards regulatory approvals for its pipeline products. This includes key treatments such as TransCon Growth Hormone for pediatric growth hormone deficiency and TransCon PTH for hypoparathyroidism.
In conclusion, Putnam Investments LLC’s decision to boost their position in Ascendis Pharma A/S signifies their confidence in the company’s future prospects. With its ongoing commitment to developing innovative therapies for unmet medical needs and strong financial backing from institutional investors, Ascendis Pharma A/S holds considerable potential as a leading biotech firm. Investors will closely follow its progress as it seeks to bring transformative treatments to patients worldwide.
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Updated on: 04/12/2023
Debt to equity ratio: Neutral
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Hedge Funds Adjust Stakes and Analyst Reports Highlight Ascendis Pharma A/S’s Market Activity and Potential Success
As of September 14, 2023, several hedge funds have made adjustments to their stakes in biotechnology company Ascendis Pharma A/S. Thrivent Financial for Lutherans, for instance, has increased its holdings by 1.5% during the first quarter. The asset management company now owns 127,116 shares of Ascendis Pharma A/S worth $13,629,000. This increase was a result of purchasing an additional 1,918 shares in the last quarter.
Additionally, Saturn V Capital Management LLC has also boosted its holdings in Ascendis Pharma A/S by 12.9% during the first quarter. The company now holds 77,210 shares valued at $8,278,000 after acquiring an extra 8,806 shares in the last quarter.
Meanwhile, Geode Capital Management LLC saw a smaller increase in holdings with a 1.1% boost during the first quarter. They now own 51,733 shares worth $5,547,000 after buying an additional 541 shares.
Alyeska Investment Group L.P., on the other hand, took a different approach and bought a new position in Ascendis Pharma A/S during the first quarter. Their position is valued at approximately $4,825,000.
Lastly, Avoro Capital Advisors LLC has increased its holdings by 7.3% during the first quarter as well. They now possess 3,325,000 shares valued at $356,506,in addition to buying an extra 225k shares last quarter.
Several equities analysts have also released reports on Ascendis Pharma A/S. StockNews.com has upgraded the company’s rating from “sell” to “hold.” Bank of America has raised their price target from $107 to $113 and Wells Fargo & Company issued an “overweight” rating on this stock but decreased their price target from $139 to $134. Similarly, Cantor Fitzgerald has reaffirmed an “overweight” rating and set a price target of $152 while Wedbush sees the stock as an outperform with a new price target of $192.
Overall, four research analysts have given Ascendis Pharma A/S a hold rating while seven have assigned a buy rating. The average rating provided by Bloomberg.com is “Moderate Buy” with a consensus target price of $145.20.
To conclude, recent changes in hedge fund stakes and analyst reports demonstrate the prominence and market activity associated with Ascendis Pharma A/S in the biotechnology industry. Investors and analysts alike are evaluating and responding to these developments, eager to assess the company’s potential success moving forward.